The concept of the metaverse, which involves the convergence of virtual and physical realities, has been gaining traction in recent years. However, the Chinese government's approach to the metaverse has been shaped by its concerns over addiction among young people. The government has cracked down on crypto and gaming, dubbing the gaming industry as "spiritual opium."
Between 2018 and 2022, the Chinese government froze the issuance of licenses for new games for a total of 17 months. In 2021, the government also limited minors to three hours of gaming time per week. However, the government is willing to back pieces of the metaverse that it feels could be directly beneficial to the economy.
The Chinese government's 14th Five Year Plan, the enormous economic strategy document that sets the national agenda from 2021 to 2025, has included digital twins as a priority. Additionally, an action plan published by five ministries, including the Ministry of Industry and Information Technology, aims to grow the virtual reality industry to 350 billion yuan ($51 billion).
The high-level plan identifies key areas for innovation, such as near-eye display, rendering processing, sensory interaction, and network transition. However, the government's support for the metaverse is conditional. Instead of a virtual world where people can socialize, work, and play, the metaverse needs to serve China's physical economy.
Siri Chen, HiAR's marketing director, explains, "At the current stage, everyone emphasizes industrial applications from education, medical, travel, and industrial development." In a demo for WIRED, a HiAR employee acted as a factory worker in a HiAR headset and was remotely asked to fix a valve. Other metaverse-related companies have also pivoted in anticipation of investment from the government.
Eric Liu, co-founder and CTO of Shanghai-based digital twin company Digitwin Technologies, has shifted the company's focus to energy and manufacturing in response to the 14th Five Year Plan. He says, "It's a field that previously wasn't ready for this kind of tech."
While the Chinese government's desire to shape the metaverse may limit its scope, state support may mean it doesn't fall victim to the notoriously fickle tech sector. Startups often try to be "in the middle of a whirlwind," meaning the right trend with explosive growth potential. However, the government's support for specific areas of the metaverse may encourage startups to focus on more targeted, sustainable applications.
Jingshu Chen, co-founder of VR company VeeR, explains, "If anything gets buzzy in China, you see companies swarm into the space. However, if growth isn't as fast as their expectation, more companies are also likely to pivot." Therefore, state support may provide some stability to the metaverse industry in China.
In conclusion, the Chinese government's approach to the metaverse is shaped by its concerns over addiction and its desire to promote the economy. The government's support is conditional, and companies are pivoting to meet the specific needs of the Chinese market. While this may limit the scope of the metaverse, state support may prevent it from being victim to the fickle tech sector. As the industry continues to evolve, it will be interesting to see how the Chinese government's approach to the metaverse develops in the coming years.
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